The Descartes Systems Group Inc. $DSGX Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its stake in The Descartes Systems Group by 11.3%, now holding approximately $50.78 million worth of shares.
• Institutional investors and hedge funds own 77.73% of The Descartes Systems Group, with several firms adjusting their positions recently, including Versant Capital Management, which increased its stake by 2,013.5%.
• The Descartes Systems Group's stock has a 52-week high of $124.31 and reported earnings of $0.41 per share, missing the consensus estimate.

The Manufacturers Life Insurance Company reduced its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 11.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 501,705 shares of the technology company's stock after selling 63,966 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.59% of The Descartes Systems Group worth $50,783,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new position in The Descartes Systems Group during the first quarter worth about $16,733,000. Freedom Investment Management Inc. raised its position in The Descartes Systems Group by 16.1% during the first quarter. Freedom Investment Management Inc. now owns 2,606 shares of the technology company's stock worth $263,000 after acquiring an additional 361 shares during the last quarter. Synovus Financial Corp raised its position in The Descartes Systems Group by 28.0% during the first quarter. Synovus Financial Corp now owns 19,939 shares of the technology company's stock worth $2,011,000 after acquiring an additional 4,360 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in The Descartes Systems Group by 12.4% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,766 shares of the technology company's stock worth $9,038,000 after acquiring an additional 9,910 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in The Descartes Systems Group by 12.2% during the first quarter. 1832 Asset Management L.P. now owns 249,466 shares of the technology company's stock worth $25,154,000 after acquiring an additional 27,089 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

Analyst Upgrades and Downgrades

DSGX has been the subject of a number of research reports. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price for the company. Barclays cut their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Royal Bank Of Canada lowered their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Finally, Wall Street Zen downgraded shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock traded up $1.11 during trading on Wednesday, reaching $99.51. The company had a trading volume of 650,170 shares, compared to its average volume of 471,944. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31. The stock's 50 day moving average price is $102.25 and its two-hundred day moving average price is $104.31. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 59.95 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. During the same quarter last year, the firm earned $0.40 EPS. The Descartes Systems Group's revenue was up 10.0% compared to the same quarter last year. As a group, research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.